Oxbow Advisors LLC Has $17.11 Million Stock Position in Mplx Lp (NYSE:MPLX)

Oxbow Advisors LLC lifted its holdings in shares of Mplx Lp (NYSE:MPLX) by 33.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 401,696 shares of the pipeline company’s stock after purchasing an additional 100,853 shares during the period. Mplx comprises about 2.0% of Oxbow Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Oxbow Advisors LLC’s holdings in Mplx were worth $17,108,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MPLX. Tortoise Capital Advisors L.L.C. lifted its position in Mplx by 2.4% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 14,825,905 shares of the pipeline company’s stock valued at $631,435,000 after purchasing an additional 353,324 shares during the last quarter. Savant Capital LLC increased its stake in shares of Mplx by 7.7% in the second quarter. Savant Capital LLC now owns 14,636 shares of the pipeline company’s stock worth $623,000 after buying an additional 1,052 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Mplx by 269.9% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 8,690 shares of the pipeline company’s stock valued at $370,000 after buying an additional 6,341 shares during the last quarter. VELA Investment Management LLC boosted its position in Mplx by 145.9% during the 2nd quarter. VELA Investment Management LLC now owns 19,768 shares of the pipeline company’s stock valued at $842,000 after buying an additional 11,728 shares during the period. Finally, Adell Harriman & Carpenter Inc. grew its holdings in Mplx by 71.4% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 49,710 shares of the pipeline company’s stock worth $2,117,000 after acquiring an additional 20,710 shares during the last quarter. Hedge funds and other institutional investors own 24.25% of the company’s stock.

Mplx Stock Down 0.8 %

MPLX stock traded down $0.34 during midday trading on Friday, hitting $42.62. The stock had a trading volume of 1,772,502 shares, compared to its average volume of 1,944,398. The business has a 50-day moving average of $42.34 and a two-hundred day moving average of $41.37. The firm has a market cap of $43.31 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.19 and a beta of 1.37. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.95. Mplx Lp has a 52-week low of $34.52 and a 52-week high of $43.42.

Mplx (NYSE:MPLX) last posted its quarterly earnings data on Tuesday, August 6th. The pipeline company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.98 by $0.17. The business had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.96 billion. Mplx had a net margin of 35.95% and a return on equity of 32.68%. Mplx’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, equities research analysts forecast that Mplx Lp will post 4.24 earnings per share for the current fiscal year.

Mplx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a $0.85 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 7.98%. Mplx’s dividend payout ratio is currently 87.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MPLX. Wells Fargo & Company increased their target price on shares of Mplx from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Mplx in a report on Wednesday, August 28th. StockNews.com raised Mplx from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 11th. Finally, Barclays raised their price target on Mplx from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Nine investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Mplx presently has a consensus rating of “Buy” and an average price target of $46.33.

Mplx Company Profile

MPLX LP owns and operates midstream energy infrastructure and logistics assets primarily in the United States. It operates in two segments, Logistics and Storage, and Gathering and Processing. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids; gathering, storage, transportation, and distribution of crude oil and refined products, as well as other hydrocarbon-based products and renewables; and sale of residue gas and condensate.